Goyal Salt IPO is a book built issue of Rs 18.63 crores. The issue is entirely a fresh issue of 49.02 lakh shares.
Goyal Salt IPO bidding started from September 26, 2023 and ended on October 3, 2023. The allotment for Goyal Salt IPO was finalized on Thursday, October 5, 2023. Goyal Salt IPO will list on NSE SME with tentative listing date fixed as Tuesday, October 10, 2023.
Goyal Salt IPO price band is set at ₹36 to ₹38 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹114,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹228,000.
Holani Consultants Private Limited is the book running lead manager of the Goyal Salt IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Goyal Salt IPO is Holani Consultants.
Refer to Goyal Salt IPO RHP for detailed information.
Goyal Salt IPO Details
| IPO Date | September 26, 2023 to October 3, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹36 to ₹38 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 4,902,000 shares (aggregating up to ₹18.63 Cr) |
| Fresh Issue | 4,902,000 shares (aggregating up to ₹18.63 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,998,250 |
| Share holding post issue | 17,900,250 |
| Market Maker portion | 246,000 shares Holani Consultants |
Goyal Salt IPO Reservation
Goyal Salt IPO a total of 4,812,000 shares are offered. QIB: 882,000 (18.33%), NII: 729,000 (15.15%), RII: 1,638,000 (34.04%).
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,317,000 (27.37%) |
| Market Maker Shares Offered | 246,000 (5.11%) |
| QIB Shares Offered | 882,000 (18.33%) |
| NII (HNI) Shares Offered | 729,000 (15.15%) |
| Retail Shares Offered | 1,638,000 (34.04%) |
| Total Shares Offered | 4,812,000 (100%) |
Goyal Salt IPO Anchor Investors Details
Goyal Salt IPO raises Rs 5.00 crore from anchor investors. Goyal Salt IPO Anchor bid date is September 25, 2023. Goyal Salt IPO Anchor Investors list
| Bid Date | September 25, 2023 |
| Shares Offered | 1,317,000 |
| Anchor Portion Size (In Cr.) | 5.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 20, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 14, 2024 |
Goyal Salt IPO Timeline (Tentative Schedule)
Goyal Salt IPO opens on September 26, 2023, and closes on October 3, 2023.
| IPO Open Date | Tuesday, September 26, 2023 |
| IPO Close Date | Tuesday, October 3, 2023 |
| Basis of Allotment | Thursday, October 5, 2023 |
| Initiation of Refunds | Friday, October 6, 2023 |
| Credit of Shares to Demat | Monday, October 9, 2023 |
| Listing Date | Tuesday, October 10, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 3, 2023 |
Goyal Salt IPO Lot Size
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹114,000 |
| Retail (Max) | 1 | 3000 | ₹114,000 |
| HNI (Min) | 2 | 6,000 | ₹228,000 |
| Lot Size Calculator |
Goyal Salt IPO Promoter Holding
Mr. Rajesh Goyal, Mr. Pramesh Goyal, Mr. Lokesh Goyal, Ms. Radhika Goyal, Ms. Priyanka Goyal, Ms. Rekha Goyal, Kunj Bihari Goyal HUF, Rajesh Goyal HUF, Parmesh Goyal HUF, and Lokesh Goyal HUF are the company’s promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
About Goyal Salt Limited
Incorporated in 2010, Goyal Salt Limited is engaged in the business of refining raw salts procured from sub-soil brine in the state of Rajasthan for use as industrial salts and edible salts.
Goyal Salt Limited refines and supplies a pure, refined, and quality range of triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt. The company’s product list includes Refined free-flow iodized Salt, Refined Free Flow Industrial Salt, Double Fortified Salt, and Refined Half Dry Salt. The company sources raw materials mainly from open market purchases which is around 75% of the total requirement of raw salt, as well as from its promoters-controlled entities and salt land harvesting owned by them, which supply around 23% and 2% respectively of the total requirement of the raw material.
The company also produces and supplies industrial salt for soap and detergent industries, textile and dyeing industries, industries producing glass, polyester, plastics, rubber, and leather, and chemical industries.
The company’s refinery is located in Nawa City, adjacent to Sambhar Lake, spread across 1.45 Hectares of land. The company also has lease rights to harvest raw salt over 18.66 Hectares of land issued by the Government of Rajasthan in the vicinity of the salt-producing area of Nawa City in Rajasthan.
Goyal Salt recorded Rs. 6,005.30 lakhs in Fiscal 2022-23.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 2,745.93 | 2,733.41 | 3,000.94 |
| Revenue | 6,012.96 | 6,615.00 | 11,770.68 |
| Profit After Tax | 68.15 | 62.75 | 353.74 |
| Net Worth | 1,121.57 | 1,169.12 | 1,618.11 |
| Reserves and Surplus | 921.99 | 969.54 | 534.92 |
| Total Borrowing | 1,297.36 | 1,059.80 | 920.11 |
Amount in ₹ Lakhs
Key Performance Indicator
Goyal Salt IPO Market Cap is Rs 68.02 Cr and P/E (x) is 13.97.
| KPI | Values |
|---|---|
| P/E (x) | 13.97 |
| Post P/E (x) | 19.19 |
| Market Cap (₹ Cr.) | 68.02 |
| ROE | 25.38% |
| ROCE | 36.22% |
| Debt/Equity | 0.57 |
| EPS (Rs) | 2.72 |
| RoNW | 21.86% |
Check Goyal Salt IPO Peer Comparison here.
Objects of the Issue (Goyal Salt IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Capital Expenditure for Quality Enhancement;
- Brand Creation and Marketing Expenses;
- Funding the working capital requirements of the company; and
- General corporate purposes.
Goyal Salt IPO Review (Apply)
[Dilip Davda] Though the company is operating in a highly competitive and fragmented segment. It posted static bottom lines for FY21 and FY22, but its bottom line surged in FY23 with its thrust on the B2C business model. The company is endeavoring to be a household brand with premium products that will bring more rewards for the company and its stakeholders. Investors may consider parking funds for the medium to long-term rewards in this lucrative field. Read detail review…
Goyal Salt IPO Subscription Status (Bidding Detail)
The Goyal Salt IPO is subscribed 294.61 times on Oct 3, 2023 7:29:00 PM. The public issue subscribed 377.97 times in the retail category, 67.20 times in the QIB category, and 382.45 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 67.20 |
| NII | 382.45 |
| Retail | 377.97 |
| Total | 294.61 |
Total Application : 206,371 (377.97 times)
Goyal Salt IPO Contact Details
Goyal Salt Limited
Plot No. 229-230, Guru Jambeshwar Nagar,
Lane No. 7 Gandhi Path, Vaishali Nagar,
Jaipur – 302021
Phone: +91 – 9116544418
Email: cs@goyalsalt.in
Website: https://goyalsaltltd.com/
Goyal Salt IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html